Renaissance Technologies LLC Invests $633,000 in Arq, Inc. (NASDAQ:ARQ)

Renaissance Technologies LLC bought a new stake in shares of Arq, Inc. (NASDAQ:ARQ - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 83,600 shares of the company's stock, valued at approximately $633,000. Renaissance Technologies LLC owned approximately 0.20% of ARQ as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of ARQ. Avanza Fonder AB purchased a new position in shares of ARQ in the fourth quarter valued at $68,000. Intech Investment Management LLC bought a new stake in shares of ARQ in the 4th quarter worth about $89,000. SG Americas Securities LLC purchased a new stake in shares of ARQ during the 4th quarter valued at about $95,000. Brandywine Global Investment Management LLC bought a new position in shares of ARQ in the 4th quarter valued at about $121,000. Finally, Wells Fargo & Company MN grew its position in ARQ by 66.9% in the fourth quarter. Wells Fargo & Company MN now owns 18,209 shares of the company's stock worth $138,000 after acquiring an additional 7,298 shares in the last quarter. 18.49% of the stock is currently owned by institutional investors.

ARQ Trading Down 6.0 %

Shares of ARQ traded down $0.22 during midday trading on Thursday, hitting $3.47. The stock had a trading volume of 124,103 shares, compared to its average volume of 258,619. Arq, Inc. has a 1 year low of $3.34 and a 1 year high of $8.11. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.89 and a quick ratio of 2.28. The stock's 50 day moving average is $4.16 and its 200 day moving average is $5.75. The firm has a market cap of $146.48 million, a PE ratio of -347.00 and a beta of 1.51.

ARQ (NASDAQ:ARQ - Get Free Report) last announced its earnings results on Wednesday, March 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03). ARQ had a negative return on equity of 0.25% and a negative net margin of 0.44%. The business had revenue of $27.04 million during the quarter, compared to analyst estimates of $28.34 million. During the same quarter in the previous year, the business earned $0.14 earnings per share. As a group, analysts forecast that Arq, Inc. will post -0.13 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Joseph M. Wong sold 6,596 shares of ARQ stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $4.68, for a total transaction of $30,869.28. Following the completion of the sale, the chief technology officer now owns 354,790 shares in the company, valued at $1,660,417.20. This trade represents a 1.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold a total of 20,588 shares of company stock worth $96,352 over the last quarter. Company insiders own 26.87% of the company's stock.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group decreased their price objective on ARQ from $10.00 to $9.00 and set a "buy" rating on the stock in a research report on Tuesday, February 11th.

About ARQ

Arq, Inc is a holding company. It engages in the provision of environmental and emission control equipment to the power generation industry. The company operates through the following Segments: Refined Coal and Advanced Purification Technologies. The Refined Coal segment includes the Tinuum Group, Tinuum Services, and GWN Manager.